Ohio’s Revenue Collection Falls $1.1B Short of FY 2020 Forecast

The Office of Budget and Management (OBM) recently released its full monthly financial report for June, showing Ohio ended FY 2020 roughly $1.1 billion (4.6%) below budgeted estimates.

The report notes that Ohio’s non-farm payroll employment increased to 4.83 million jobs in May, a 2.7% increase over April — including 19,000 new manufacturing jobs. Despite the increase, non-farm employment remained 13.6% below last year’s levels. 7/13/2020